Alyeska Investment Group L.P. Trims Stock Position in Paylocity Holding Corporation $PCTY

Key Points

• Alyeska Investment Group L.P. reduced its stake in Paylocity Holding Corporation by 73.1%, selling 356,476 shares, and now holds 131,117 shares valued at approximately $24.56 million.
• Wall Street analysts are optimistic about Paylocity, with a consensus rating of "Moderate Buy" and a target price of $222.71, backed by several firms issuing various buy ratings.
• The company reported a quarterly earnings per share of $1.56, exceeding analyst expectations, while revenue increased 12.2% year-over-year to $400.74 million.

Alyeska Investment Group L.P. lessened its holdings in shares of Paylocity Holding Corporation (NASDAQ:PCTY - Free Report) by 73.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,117 shares of the software maker's stock after selling 356,476 shares during the period. Alyeska Investment Group L.P. owned approximately 0.24% of Paylocity worth $24,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCTY. Ameriprise Financial Inc. grew its holdings in Paylocity by 1.2% during the fourth quarter. Ameriprise Financial Inc. now owns 291,440 shares of the software maker's stock worth $58,134,000 after acquiring an additional 3,548 shares during the period. BNP Paribas Financial Markets grew its holdings in Paylocity by 393.6% during the fourth quarter. BNP Paribas Financial Markets now owns 37,864 shares of the software maker's stock worth $7,553,000 after acquiring an additional 30,193 shares during the period. Benjamin Edwards Inc. acquired a new position in Paylocity during the fourth quarter worth $201,000. Crestline Management LP acquired a new position in Paylocity during the fourth quarter worth $3,184,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in Paylocity by 229.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 91,372 shares of the software maker's stock valued at $18,226,000 after purchasing an additional 63,602 shares during the last quarter. Institutional investors and hedge funds own 94.76% of the company's stock.

Insiders Place Their Bets

In related news, SVP Andrew Cappotelli sold 1,717 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $176.74, for a total transaction of $303,462.58. Following the transaction, the senior vice president directly owned 11,953 shares in the company, valued at approximately $2,112,573.22. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.91% of the company's stock.

Wall Street Analyst Weigh In

PCTY has been the topic of several research reports. Stephens initiated coverage on Paylocity in a report on Monday, July 21st. They issued an "equal weight" rating and a $200.00 target price on the stock. Barclays lowered their target price on Paylocity from $209.00 to $190.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. UBS Group upped their target price on Paylocity from $201.00 to $202.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Cantor Fitzgerald initiated coverage on Paylocity in a report on Thursday, August 14th. They issued an "overweight" rating and a $215.00 target price on the stock. Finally, Citigroup lowered their target price on Paylocity from $225.00 to $218.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $222.71.

Paylocity Price Performance

Shares of PCTY traded down $1.15 during trading hours on Friday, reaching $174.40. 494,145 shares of the company traded hands, compared to its average volume of 488,051. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $9.62 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 3.45 and a beta of 0.51. Paylocity Holding Corporation has a fifty-two week low of $150.87 and a fifty-two week high of $223.80. The stock has a fifty day simple moving average of $180.93 and a 200 day simple moving average of $186.50.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.18. The business had revenue of $400.74 million for the quarter, compared to analyst estimates of $388.25 million. Paylocity had a return on equity of 22.08% and a net margin of 14.24%.The business's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.48 earnings per share. Paylocity has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, research analysts predict that Paylocity Holding Corporation will post 4.36 EPS for the current fiscal year.

Paylocity Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.